The Non-Banking Financial Company requires a technology-based solution for loan approval and management. The company needs to a make presence on a cloud-based platform to manage loan applications & other financial services on a large scale.

Client Business Background

Being a Non-Banking Financial Service provider for a range of savings, loans, and other financial services their core domain is to provide services for customers with low monthly payment. They commit to the financial growth and success of each member in the community.

Client’s Current Operating Environment & Change They Required

The client provides secured loans, unsecured loans, auto loans, and other financial services. They manually managed all the loan approval & application process with its complex calculations on Excel sheets. They lack an organized data structure and storage.

As this is a tedious process with a high risk of errors, the client required a technology-based solution to manage their loan approval and loan management process. They were looking for a solution to implement seamless, automated, customized & real-time processing and calculations of their loan data for efficient management.

Solution and Approach

Our team after studying the objectives of the Client’s requirement of loan approval and management system built a solution on top of Salesforce Financial Cloud Services.

The delivered solution implements customized forms for the loan approval & application process. This eliminates 90% of the manual work of data capturing.

With the concern of accurate calculations of loan amounts, the solution provides Salesforce supported Multi-Product Loan Calculator. The calculator performs complex algorithms and logic for seamless and error-free calculations of loan amounts. This enhances the degree of accuracy and consistency of loan inputs.

The solution implements a high amount of automation for processes like PDF generation, email communications, mail PDF to applicants, and notifications. The PDF consists of detailed information about the loan and its applicant ensuring consistency of data.

The client access real-time data using Salesforce provided Standard Reports & Dynamic Dashboards.

Overall the solution allows the Client to implement scalable, automated, customized, accurate, real-time, reliable, and cost-effective loan management strategies.

Key Benefits

The delivered solution seamlessly handles complex calculations of loan amounts and eliminates manual work. The solution provides high accuracy, consistency, transparency of loan data with auto-generated PDFs. The client access real-time data to have detailed insights into their statistics. The solution is best suited to conduct error-free, timely, systematic, and resilient functioning of the loan management system.